Vermont's Small Scale Renewable Energy Incentive Program (SSREIP), initiated in June 2003, currently provides funding for new solar water heating and advanced wood pellet heating installations. The program is available to residential, commercial, institutional, and non-profit entities. Only systems installed by pre-approved installers will be eligible for funding. Funding must be reserved and applications approved before expenditures are made. Fund availability can be found here. Once reservations are granted, applicants have six months to complete their projects and submit the final application. Current incentives are as follows:
Solar Hot Water
Residential: $0.40/kWh/yr, up to $3,000.
Commercial: $0.40/kWh/yr, up to $16,500.
Special Category: $0.80/kWh/yr, up to $45,000. Solar Hot Water incentives are available for public swimming pools for Special Category customers only.
Advanced Wood Pellet Heating
Flat-Rate Incentive (Residential, Commercial/Industrial): $3,000 (customer lifetime cap = $70,000)
Custom Incentive (Residential, Commercial/Industrial): $1.25/sq-ft heated space connected to the system, up to $60,000. Thermal storage tank adder = $10.00/MBH, up to $10,000. (customer lifetime cap with adders = $70,000)
Custom Incentive (Public-Serving Institutions): $1.25/sq-ft heated space connected to the system, up to the lesser of $80,000 or 50% of installed cost. Thermal storage tank adder = $10,00/MBH, up to $15,000. (customer lifetime cap with adders = $95,000)
Pellet heating systems must have an efficiency rating of 85% or higher, and wood chip heating systems must have a minimum efficiency of 80%. More information on SSREIP wood pellet heating incentives can be found here.
Projects receiving a grant through the Clean Energy Development Fund are not eligible for this incentive.